Lake Norman to Uptown Charlotte Living: January 2010

The Lake Norman region of Charlotte got a nice surprise when they woke up this morning...about 5or 6 inches of snow!

The area usually does not get a whole lot of snowfall but in recent years we are accustomed to about 1 or 2 dusting's. This time it started about 4 pm on Friday and lasted through the night.

Having 6 yr old triplet boys it was alot of fun. Luckily for us our neighbors driveway was the perfect launching point for our tubing experience.

Being from the upstate area of New York (Catskills) this definitely brought back some memories. However, our sleigh riding was done on a hillside with assistance from snowmobilers. The great thing about living in Charlotte though is that in a couple days all of this will be gone and 60 degree temperatures should return.

Not only did the boys get a chance time enjoy the white stuff but Jake and Kira had a great time playing in it.

I know this storm traveled across a large portion of the US so I hope others were able to enjoy the snow as well.

Mike Carpino
Mike@LakeAndTown.com
704 301-9264

Antiquity located in Cornelius NC is beign touted as the first pedestrian-friendly development.

Developers and residents say the Antiquity subdivision will transform downtown Cornelius while likely making it a prominent destination community.

Positioned to be built around the Charlotte Area Transit System's planned extension of the North Corridor Commuter Rail into the Lake Norman area.

Currently about 20 percent of all lots are occupied while the other 80 percent of the development has roads and infrastructure in place. No commercial development is underway, but the subdivision is expected to house coffee shops, restaurants and other retail shops driven by consumer services. The estimated project value could exceed $250 million when finished, developer Joe Roy said.

Antiquity is the town's only subdivision that has been growing over the last three years despite the economy and housing market troubles, said Cornelius town manager Anthony Roberts.

"That's a testament to the quality of the development," Roberts said. "To be selling like they are, it has to be offering something."

Among the community's current or planned offerings are a 30-acre park, a community pool, a 1,500-seat amphitheater, hiking and biking trails, sidewalks lined with fruit-bearing trees and even a vineyard of muscadine grapes.

The streets inside Antiquity will be lined with about 1,000 residences designed to appeal to families, young professionals and empty-nesters. Tucked in and around the apartments, townhouses and single-family homes being built will be nine mini parks. Single-family homes range from the low $200,000s to $400,000s. Townhomes start in the low $100,000s.

The approximate 130-acre "smart-growth" community is known for its rustic, covered bridge that connects to downtown Davidson via South Street. Smart-growth communities seek to preserve an area's natural and cultural resources by planning for mixed-land uses and walkable neighborhoods.

Mike Carpino
Mike@LakeAndTown.com
www.lakeandtown.com
704 301-9264

MLS Market Snapshot

Villages of Rosedale Huntersville NC Home Values

If you'd like to get the most-up-to-date information on Villages At Rosedale house values for 2010, please fill out form below. We can help you with all aspects of buying or selling a home in this and other neighborhoods in Huntersville, North Carolina or Mecklenburg County.

Mike Carpino
Mike@LakeAndTown.com
704 301-9264
www.lakeandtown.com

Maximize Tax Credit and Buy Early in 2010.

After meeting with a recent client looking to possibly rent or sell her property I wanted to do a little more research on the tax credit that is expiring in April. If you have decided to become a homeowner in 2010, then consider doing it as early in the year as possible, because delay has another drawback in addition to the risk of losing out on the first-time buyer credit.

For every day that passes after January 1, you will find it harder to take full advantage of the tax benefits during your first year of ownership.  This results from the way the federal income tax system (and most state income tax systems that piggyback on the federal law) works for those who itemize deductions. 

Buying a home is typically what turns short-form 1040A and 1040EZ filers (who take the standard deduction) into long-form 1040 itemizers.  To get the benefit of deductions for home mortgage interest and property taxes, two of the largest deductible items for most tax filers, you must first exceed the standard deduction.  For 2010, the standard deduction will be $11,400 for married persons, $5,700 for singles and $8,400 for single heads of household. 

Deductible items that are typical and common to both homeowners and renters include state and local income taxes, personal property taxes and charitable contributions.   Together, these items are rarely enough for taxpayers to itemize.   However, adding mortgage interest and real estate taxes usually raises the total itemized deductions above the standard deduction level, making it advantageous to itemize.  

Unfortunately, many first-time buyers still wind up taking the standard deduction during their first year.  If you purchase late in the year, your mortgage interest and real estate taxes may be insufficient to make you an itemizer.  As a result, you essentially lose the tax benefits of homeownership during the first year, whether for just a few weeks
or a few months. 

However, if you purchase a home early in January, you will get nearly a full year's worth of mortgage interest and property tax deductions and should have no trouble exceeding the standard deduction and, thus, maximizing your tax benefits.  Don't think that just because there is a first-time homebuyer credit that will wipe out your tax liability, you shouldn't do as much as you can to minimize your tax tab before applying the credit. 

Because the credit is refundable, lowering your tax bill as much as possible will mean getting an even bigger check from the government!

If you are wondering about home prices in the Lake Norman to Uptown Charlotte area please click on link below:

MLS Market Snapshot

Mike Carpino
Owner/Broker
Mike@LakeAndTown.com
www.huntersvillehomepricesnow.com
704 301-9264

Peninsula Club Golf Course Home Prices and Home Sales in Lake Norman, NC

www.lakeandtown.com - Best Customized Real Estate Reports Charlotte and Lake Norman!

Are you wondering if the Real Estate Market has Stabilized in your area?
Would you like to know how much homes actually SOLD for in your neighborhood?
Would you like to gauge how the current Real Estate market is trending?
FIND THIS INFORMATION AND MUCH MUCH MORE BY SIGNING UP FOR YOUR COMPLIMENTARY MARKETSNAPSHOT REPORT

Simply go to LAKEANDTOWN.COM and sign up for a FREE Market Snapshot Report and receive your customized report within minutes!!

Brock Zevan
704-728-1008
Brock@lakeandtown.com

Stephens Grove Huntersville NC Homes for Sale

I thought I would start a new series of blogs called BEST BUYS. I will search numerous Lake Norman area neighborhoods such as Huntersville, Cornelius, Davidson, Mooresville, Denver and report back here with my results.

I live in the Stephens Grove subdivision so I will start there. After completing a Market Analysis I believe 7628 Birchwalk Dr to be a very good value. Most homes are priced at or above $100/sq ft. This home is FULL BRICK , 3 car garage, 5BR and sits on .52 acres.

The community is very family friendly and is located in a good school district. Shopping and restaurants are only minutes away and if you enjoy water activities Lake Norman is pratically in your backyard.

Click on link to view all home in the Stephens Grove neighborhood and go to 7628 Birchwalk Dr.

Mike Carpino
Broker/Owner
Mike@LakeAndTown.com
www.lakeandtown.com
704 301-9264

MLS Market Snapshot

Tax Credit for Longtime Homeowners FREE Home Value Report

Here is a recent article by Richard Koreto:

If you're a longtime homeowner-meaning you've lived at your principal residence for five consecutive years out of the last eight-you may qualify for a home-buyer tax credit worth up to $6,500. You must purchase a new principal residence between Nov. 7, 2009, and April 30, 2010. Like the first-time home- buyer tax credit that applies to these dates, you can settle as late as June 30, 2010, as long as you have a binding contract by April 30.

The same $800,000 cap on the purchase price applies to longtime homeowners, as do the same income restrictions. The credit begins to phase out for joint filers at modified adjusted gross income of $225,000 ($125,000 for individuals), and disappears at $245,000 ($145,000 for individuals). Married couples filing separately are eligible for up to half of the $6,500 credit.

For both first-time and longtime buyers who want to claim the tax credit for a purchase made after Nov. 6, 2009, the IRS requires proof. Attach a copy of the settlement statement you received at closing to your return. You must be at least 18 years old.

Click Link below to find out Home Prices in the Lake Norman and Surrounding Areas

Free Home Value Report

Mike Carpino
Broker/Owner
704 301-9264
Mike@LakeAndTown.com
www.LakeAndTown.com

Carrington Ridge Free Home Value Report in Huntersville, NC

www.lakeandtown.com - Best Customized Real Estate Reports Charlotte and Lake Norman!

Are you wondering if the Real Estate Market has Stabilized in your area?
Would you like to know how much homes actually SOLD for in your neighborhood?
Would you like to gauge how the current Real Estate market is trending?
FIND THIS INFORMATION AND MUCH MUCH MORE BY SIGNING UP FOR YOUR COMPLIMENTARY MARKETSNAPSHOT REPORT

Simply go to LAKEANDTOWN.COM and sign up for a FREE Market Snapshot Report and receive your customized report within minutes!!

Henderson Park Home Value reports in Minutes in Huntersville, NC

www.lakeandtown.com - Best Customized Real Estate Reports Charlotte and Lake Norman!

Are you wondering if the Real Estate Market has Stabilized in your area?
Would you like to know how much homes actually SOLD for in your neighborhood?
Would you like to gauge how the current Real Estate market is trending?
FIND THIS INFORMATION AND MUCH MUCH MORE BY SIGNING UP FOR YOUR COMPLIMENTARY MARKETSNAPSHOT REPORT

Simply go to LAKEANDTOWN.COM and sign up for a FREE Market Snapshot Report and receive your customized report within minutes!!

Huntersville NC Townhomes FREE Home Value Reports in Minutes!

www.lakeandtown.com - Best Customized Real Estate Reports Charlotte and Lake Norman!

Are you wondering if the Real Estate Market has Stabilized in your area?
Would you like to know how much homes actually SOLD for in your neighborhood?
Would you like to gauge how the current Real Estate market is trending?
FIND THIS INFORMATION AND MUCH MUCH MORE BY SIGNING UP FOR YOUR COMPLIMENTARY MARKETSNAPSHOT REPORT

Simply go to LAKEANDTOWN.COM and sign up for a FREE Market Snapshot Report and receive your customized report within minutes!!